Arizona Man Admits Guilt in $13M Crypto Ponzi Scheme, Potential 15-Year Sentence Looms

Randall Tilli, 52, from Scottsdale, Arizona, has pleaded guilty to one count of wire fraud concerning a fraudulent cryptocurrency investment scheme that garnered approximately $13 million from investors. Tilli’s sentencing is scheduled for October 14, 2024, and he could face a maximum prison term of 15 years and a $250,000 fine. Tilli started his career as a product marketer with a multi-level marketing company before launching his own enterprise, Meta Mining LLC, in 2017. Tilli promised investors substantial returns through cryptocurrency investment, but he instead used the funds to pay off earlier investors and cover his personal expenses, a classic Ponzi scheme pattern. As part of his guilty plea, Tilli has agreed to pay restitution of $12,829,017. The FBI Phoenix Field Office conducted the investigation.